| Weekend Report |
| February 20, 2005 |
Happy President’s Day Everyone: Well, last week started out OK but things sort of started to fall apart on Thursday for most indices. The DJIA, DJ Composite, SP 500, SP 600 and the Naz were all down a fraction of a percent. Although the NYSE was up for the week, advancing issues lagged declining issues 3/4. The AMEX A/D was also 3/4. The Naz was 13/20, the DJIA was 11/19 and the DJ Composite was 24/40 with 1 unchanged. The Naz and NYSE A/D issues as well as the short term A/D volume indicate further downside IMO. The Naz ARMS was over 2 on Thursday and was slightly over 1 on Friday. Some of the moving groups this week were pretty defensive; e.g. Oil, Chemicals, Food, Metals, Railroads… Overall, I’m short-term bearish. But if you follow group movement (there are numerous sites that offer Groups/Sectors) and go with the flow on short-term trading you should be OK. For longer term investors, I believe earnings are the primary factor in making investment decisions. But Group movement is also very important for longer term investors too. The stocks listed below are not recommendations. They are simply securities that meet particular criteria. If you find any of interest, you should do your own research. Cup w/ Handles FFEX OPTN STD DRS UNA CYT SHFL URBN CEPH Look at a weekly chart to see the pattern on these: FARO KOF SORC SNY SMMX RVSN Flat Bases/Low Volume BPOP PNN TFX URBN ECIL ALSK NLS TJX DEX APCS Additionally, look at MDR 50 dma moves upward through 200 dma OSIP EVC NTE CEPH RWY FLOW RSI(14) moves upward through 30 DANKY MANU RSI(14) moved upward through 50 AND an MACD crossover USM TSN TSA CVO Generally bullish short term technicals DO TESOF and a penny stock: EGAM Friday's new highs, closed up on at least 2x ADV YPF TIN NVDA TIE CRYP MDRX SONC POOL GOSHA MCIP PTEN EENC MLP VDE FEIC BKF DOM SVNX CAS GDP WLM SIGM VAW ABR CPE CNVR UQM PDC DA GBTS RIMG NGS NDD MCZ PQUE TGS PRM FVI FEU VOV OUTL CNR Sectors/Groups Rather than sit here and type all this, I’m just going to give you some sites so those who are interested can check them if they want to. Top Sectors on Friday Worst Sectors on Friday …If you have Dow Jones News you can see these every hour on the hour until the market closes. Top Groups on Friday Worst Groups on Friday …You can view these at http://tal.marketgauge.com/MGHome/PHSReportsIndex.asp Top Indices on Friday Worst Indices on Friday …You can view these at http://americanbulls.com/Indices.asp Top DJ Indices for the week Worst DJ Indices for the week …You can view these at http://cbs.marketwatch.com/tools/industry/default.asp?siteid=mktw&bcind_ind=bc_top&bcind_period=1wk You can change the timeframe if you wish. Site Watch Free Friday email of a summary of the top stories which will appear in Barron’s on Saturday: http://Barrons.com/preview Complete Daily Advance/Decline issues and volume on the Naz back to 1978. Back to 1965 on the NYSE. Scroll down to the History Section: http://unicorn.us.com/advdec Pressed for time? Try Yahoo Shortcuts: http://tools.search.yahoo.com/shortcuts Over 5,000,000 news articles: http://findarticles.com Some of the highest CD rates are at http://umbrellabank.com/site_map.asp But I have a hard time taking this place seriously with their Thunderbolt Checking and Rainy Day Money Savings And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***BEIJING - Chinese mobile phone users sent a record 11 billion text messages during the week-long Spring Festival holiday, ringing in the Lunar New Year in style, Xinhua news agency said Friday. The holiday is the most important family reunion of the year, and the SMS calls brought in more than 1.1 billion yuan ($133 million), also a record, it said. "In addition to text messages, people sent pictures and songs via their mobile phones as festival greetings," Xinhua said. By the end of 2004, Chinese mobile phone users had surpassed 330 million. They sent a total of 217.7 billion messages last year. ***The Consumer Price Index for January to be announced on Wednesday, which will give a reading on inflation at the retail price level, will be closely watched next week. Economist’s expected .2% last week, but I see that figure is being raised to .3%(Barron’s) On Friday, the government reported that the core Producer Price Index shot up 0.8 percent in January. That increase — the biggest gain since December 1998 and well above the Street's expectation for a 0.2 percent rise — fanned inflation fears and bolstered a growing expectation that the Federal Reserve will keep raising interest rates well into 2005. ***A Food and Drug Administration panel of experts voted by a narrow margin Friday that Merck's now-withdrawn arthritis pain killer Vioxx was safe enough to be sold in the United States despite an increased risk of heart attack and stroke. Merck's stock rose $3.76 to $32.61. The FDA's advisory panel also voted 17-13, with two abstentions, to keep Pfizer's rival arthritis drugs Celebrex and Bextra on the market. Pfizer climbed $1.74 to $26.80. ***Friday’s highlights http://biz.yahoo.com//cbsm/050218/a23197a6529749c883cf83c68a5f7589_4.html ***The Securities and Exchange Commission has launched an insider-trading probe of shock jock Howard Stern's deal to join Sirius Satellite Radio Inc. (SIRI), the New York Post reports Saturday. In the two weeks running up to the blockbuster announcement last October, Sirius stock soared nearly 40%. The SEC is looking to determine if someone who knew the deal was coming started buying up stock in anticipation of shares skyrocketing when the news got out, the Post said. Friday, New York gossip journalist Chaunce Hayden, a frequent guest on the Stern show, received a subpoena from the SEC, the Post said. He was told he needs to appear before the SEC on Wednesday to answer questions about what he heard in Stern's studio around the time of the Oct. 6 announcement that Stern was leaving free radio for Sirius. The subpoena is seeking information about "trading in securities of Sirius Satellite Radio," according to a copy obtained by the Post. Hayden told the Post an SEC official told him the agency was investigating allegations of insider trading. A Sirius spokesman told the newspaper: "We have no reason to believe this matter involves Sirius or any actions of its officers, directors or employees, and neither Sirius nor any of its officers, directors or employees have received a subpoena in this matter." An official for the SEC declined comment. A representative for Stern was unavailable for comment, the Post said. ***Study: Consumer-Confidence Data Useless http://biz.yahoo.com/ap/050220/consumer_confidence_study_2.html ***Blockbuster Sued Over Return Policy http://www.washingtonpost.com/wp-dyn/articles/A36767-2005Feb18.html ***MCI's largest shareholder "studying" Verizon deal http://trimurl.com/X6 ***And an EPS calendar http://www.rightline.net/calendar/index.html Best of Luck To All, Doug (IIC) |
| Los Angeles | CA | 90034 |